JP Morgan Partners and Keith Swayne sell Case Swayne Holdings to Bestfoods Inc

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JP Morgan Partners and Keith Swayne have sold Case Swayne Holdings to Bestfoods, Inc.

Kerlin acted as financial advisor to JP Morgan and Keith Swayne who together controlled Case Swayne Holdings, in Case Swayne’s $185 million sale to Bestfoods, Inc. Case Swayne is a leading developer and processor of sauces and seasonings for the institutional food market. Prior to the sale, Kerlin acted as advisor to Case Swayne in its acquisition of other specialty food product companies as well as its family recapitalization in 1997. Case Swayne Holdings shareholders received 10 times historical EBITDA in the transaction with Bestfoods which was considered a premium strategic valuation.